Can someone tell me if i am doing this right... accounting?

Question

Total credit sales $2,211,190

Accounts receivable at December 31 828,320

Bad debts written off 33,207

1. Assume that Jems Company estimates its bad debts expense to be 2% of credit sales. What amount of bad debts expense will Jems record if it has an Allowance for Doubtful Accounts credit balance of $7,111?

.02 * $2,211,190 = 44223.8

then 44223.8 – 7111 = 37112.8 is this the correct?

2. Assume that Jems Company estimates its bad debts expense based on 7% of accounts receivable. What amount of bad debts expense will Jems record if it has an Allowance for Doubtful Accounts credit balance of $3,131?

.07 * 2,211,190 = 154783.3

then 154783.3 – 3131 = 151652.3 is this correct?

3. Assume the same facts as in previous question, except that there is a $3,131 debit balance in Allowance for Doubtful Accounts. What amount of bad debts expense will Jems record?

.07 * 2,211,190 = 154783.3

then 154783.3 + 3131 = 157914.3 is this correct?

Answer 1

Yes, all three of your answers/formulas are correct.  You understand the concept.